Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Pfizer Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Jun 29, 2025 Mar 30, 2025 Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Oct 1, 2023 Jul 2, 2023 Apr 2, 2023 Dec 31, 2022 Oct 2, 2022 Jul 3, 2022 Apr 3, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Short-term borrowings, including current portion of long-term debt
Trade accounts payable
Dividends payable
Income taxes payable
Accrued compensation and related items
Deferred revenues
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Pension and postretirement benefit obligations
Noncurrent deferred tax liabilities
Other taxes payable
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Preferred stock
Common stock
Additional paid-in capital
Treasury stock
Retained earnings
Accumulated other comprehensive loss
Total Pfizer Inc. shareholders’ equity
Equity attributable to noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).


An analysis of the quarterly financial data reveals several notable trends and movements in the company’s liabilities, equity, and related items over the observed periods.

Short-term borrowings and current liabilities
Short-term borrowings, including the current portion of long-term debt, show considerable volatility. After declining sharply from $16,007 million in March 2020 to $2,703 million in December 2020, the value fluctuates with intermittent spikes, peaking again at $10,350 million in March 2024 before decreasing to $4,295 million in June 2025. Overall, current liabilities follow a broadly similar pattern, rising from $33,890 million in March 2020 to a peak near $47,794 million in December 2023, before declining to $37,726 million by June 2025. These changes suggest active management of short-term obligations and liquidity positions.
Trade accounts payable
Trade accounts payable steadily increased from $3,972 million in March 2020 to a high of $6,809 million in December 2022, before showing some fluctuations around $5,240–5,633 million in 2024 and 2025. This increasing trend until late 2022 may indicate growing operational activities or delays in payments, followed by stabilization.
Dividends payable
Dividends payable appear intermittently, generally hovering around $2,100–2,400 million across the periods, with relatively stable amounts suggesting consistent dividend policies and expected payouts.
Income taxes payable
Income taxes payable display significant volatility. After rising from $1,150 million in early 2020 to a peak of $4,496 million by October 2021, this liability declines and fluctuates around $1,800 to $3,100 million in subsequent quarters. The initial spike may reflect timing of tax obligations or changes in tax planning, with later stabilization.
Accrued compensation and related items
Compensation-related liabilities experience fluctuations, decreasing from $2,246 million in March 2020 to a low of $1,972 million in July 2023, then peaking at $3,838 million in March 2025 before declining again. This variability may be tied to payroll cycles, bonus accruals, or changes in workforce compensation structures.
Deferred revenues
Deferred revenues start being reported from December 2020 at $1,113 million, increasing significantly to a peak of $6,191 million in October 2022 before declining to about $1,000–1,500 million by mid-2025. This pattern suggests a growth in advance billings or unearned revenue followed by recognition or refunds.
Other current liabilities and total current liabilities
Other current liabilities grow markedly from $10,515 million in March 2020 to a peak of $24,938 million in December 2021, followed by fluctuating decreases to around $18,575 million in June 2025. The overall current liabilities show a similar pattern, with a substantial peak in late 2023, likely reflecting temporal accruals, increased payables, or short-term financing activities.
Long-term debt, excluding current portion
Long-term debt levels exhibit general decline from $50,529 million in June 2020 to $31,704 million in April 2023. However, a sharp increase to over $61,000 million is observed in mid to late 2023, remaining relatively stable through mid-2025. This indicates either new debt issuance or refinancing activity during this period.
Pension and postretirement benefit obligations
These obligations steadily decrease over time from $6,535 million in March 2020 to approximately $2,130 million by June 2025, reflecting ongoing pension funding or remeasurements reducing the liability over the period.
Noncurrent deferred tax liabilities and other noncurrent liabilities
Noncurrent deferred tax liabilities fluctuate inconsistently, with a sharp drop from $4,161 million in July 2021 to a low of $328 million in October 2021, followed by gradual increases to about $2,481 million by June 2025. Other noncurrent liabilities increase steadily from $6,812 million in March 2020 to a peak around $16,540 million in December 2023, with some decline afterwards, indicating growth in long-term obligations or accrued expenses.
Other taxes payable
Other taxes payable decrease overall from $12,212 million in March 2020 to $3,313 million in June 2025, with notable declines beginning in 2023, possibly due to changes in tax strategy or settlement of liabilities.
Total liabilities
Total liabilities rise from roughly $101,000 million in early 2020 to a maximum of $137,213 million in December 2023, then decline to about $117,083 million by mid-2025. This peak denotes increased leverage or obligations during this period with partial reduction afterward.
Shareholders’ equity and related components
Common stock remains nearly constant, reflecting stable share counts. Additional paid-in capital steadily grows from $87,680 million in March 2020 to $94,053 million in June 2025. Treasury stock balances are consistently negative and show gradual increases in absolute value, indicating continued buyback activity. Retained earnings rise from $101,000 million in March 2020 to $131,101 million in April 2023, then decline to around $117,609 million by June 2025, showing distribution or losses post-peak. Accumulated other comprehensive loss narrows from approximately -$13,131 million in March 2020 to about -$7,966 million in April 2023 and fluctuates thereafter, indicative of changes in pension, foreign currency adjustments, or valuation reserves.
Total equity
Total Pfizer Inc. shareholders' equity increases from $65,026 million in March 2020 to a high of nearly $101,236 million in April 2023 before descending to approximately $88,695 million by June 2025, showing periods of equity growth followed by contraction possibly due to market conditions, dividends, share repurchases, or retained earning fluctuations.
Total liabilities and equity
The combined total of liabilities and equity moves from $166,336 million in March 2020 to a peak near $226,501 million in December 2023, subsequently declining to $206,095 million by June 2025. This overall trend illustrates growth in the company’s balance sheet size through end of 2023, followed by a moderate contraction.

In summary, the data demonstrates active management of debt and liabilities with notable borrowing increases around 2023 and subsequent reduction. Equity growth trends peaked in early 2023, before partially reversing. Operational liabilities such as payables and accrued compensation show variability aligned with business cycles. Pension-related obligations steadily decline, while deferred revenues and other current liabilities experience significant fluctuations, reflecting changes in business activities and timing of obligations.